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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Recent college grad. Down payment on a house or car? ### Answer: Don't buy the new car. Buy a $15k car with $5k down and a 3 year loan and save up the rest for your car. A $500/mo car payment is nuts ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the benefit of opening a Certificate of Deposit (CD) Account? ### Answer: Yes. Savings accounts and CDs today pay almost nothing. They are not a way to grow your money for the future. They are ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise for an independent contractor to avoid corporation tax by planning to only break even each year? ### Answer: First, point: The CRA wants you to start a business with a "Reasonable expectati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the difference between Buy and Sell price on the stock exchange [duplicate] ### Answer: The Bid price is simply the highest buy price currently being offered and the Ask price simply the lowest...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is silver so volatile compared to the S&P 500? ### Answer: Silver is a commodity. It's valuable for certain kinds of manufacturing, jewelry, and as a speculative financial instrument or hedge agai...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 1.4 million cash. What do I do? ### Answer: At 1.4 Million, you can definately afford a professional advisor who would give you the best advice taking into account all your goals and risk appetite. ##...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When filing for an NOL, do you have to file the amended previous years' returns after the NOL return? ### Answer: Your CPA doesn't need to file anything, so don't worry about him being sidetracked. Yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Has anyone compared an in-person Tax Advisor to software like Turbo Tax? ### Answer: If you have complicated taxes (own a business, many houses, you are self employed, you are a contractor, etc etc) a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the pros and cons of buying a house just to rent it out? ### Answer: You should absolutely go for it, and I encourage you to look for multi-unit (up to 4) properties if there are any in your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a good idea to teach children that work is linearly related to income? ### Answer: I don't know if it counts as a formal answer, but Dale Carnegie has always preached that income is related to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's a normal personal debt / equity ratio for a highly educated person? ### Answer: Curious, are you asking about average, or the good numbers? The median family doesn't have $2500 to address an em...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it worth it to reconcile my checking/savings accounts every month? ### Answer: Sounds like you are reconciling more than once a month. I like to say I glance at all my statements, but these days I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would people sell a stock below the current price? ### Answer: Firstly, if a stock costs $50 this second, the bid/ask would have to be 49/50. If the bid/ask were 49/51, the stock would cost $51 t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pension or Property: Should I invest in more properties, or in a pension? ### Answer: Investing in property hoping that it will gain value is usually foolish; real estate increases about 3% a year in ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Started new job. Rollover previous employer 401k to new 401k, IRA or Roth IRA? ### Answer: You can't roll it over to a Roth IRA without tax penalties. The best thing to do is roll it to an IRA that ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit? ### Answer: Rich people use "depositor" banks the same way the rest of us use banks; to keep a relatively sm...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Changing Bank Account Number regularly to reduce fraud ### Answer: We change it every so often to reduce fraud. If you're absolutely sure you didn't just send money to a scammer impersonating a landlo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How could a company survive just on operations cash flow, i.e. no earnings? ### Answer: It is true that operation profit comes from gross profit however it is possible for a company to have negative n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do developed country equities have a higher return than emerging market equities, when measured in the latter currency? ### Answer: Do developing country equities have a higher return and/or lower ris...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS give some help or leniency to first-time taxpayers? ### Answer: No, there is no special leniency given to first time tax payers. In general, this shouldn't be an issue. The IRS collects y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Taxes on selling stock ### Answer: You can keep the cash in your account as long as you want, but you have to pay a tax on what's called capital gains. To quote from Wikipedia: A capital gain is a pro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options do I have at 26 years old, with 1.2 million USD? ### Answer: You need to find a fiduciary advisor pronto. Yes, you are getting a large amount of money, but you'll probably have to deal wi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Consequences of not closing an open short sell position? ### Answer: You would generally have to pay interest for everyday you hold the position overnight. If you never close the position and the sto...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Potential pitfalls of this volume trading strategy ### Answer: People are trying ideas like this, actually. Though they generally aren't very public about it. While keshlam ventures into hyperbole w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is routing number called ABA/ABN number? ### Answer: The ABA number you speak of is more accurately called the Routing Transit Number. http://en.wikipedia.org/wiki/Routing_transit_number A routi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Better to get loan from finance company or bank considering the drop of credit score? ### Answer: If your primary concern is a drop in your credit score, go to a mortgage broker instead of multiple ba...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does the phrase “To make your first million” mean? ### Answer: I'd interpret it as "Net Worth" reached 1M where "net worth" = assets - liabilities. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What emergencies could justify a highly liquid emergency fund? ### Answer: If you engage in any kind of dangerous activity, the training courses will often state that an accident is not the result of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Working on a tax free island to make money? ### Answer: According to Wikipedia, import duties on goods range from 5-22% on everything but cars (30-100%) and a handful of other goods (no import duties)...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: I would personally beware of the Motley Fool. Their success is based largely on their original investment strategy book. It had a lot of good advice in it, but...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I improve my credit score if I am not paying bills or rent? ### Answer: So you work, and give a small irregular amount to you parents. You live with very low expenses. Assuming you make a bi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the best options for an RESP for my 2 year old kid? ### Answer: Since your child is 2, he has a long time horizon for investment. Assuming the savings will be used at age 19, that's 17 years...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I have to work a certain amount of hours in order to get paid monthly? ### Answer: Frequency of paychecks is up to the company. Many pay monthly. Some pay twice a month, or every other week. I have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Looking for a stock market simulation that's as close to the real thing as possible ### Answer: There is a site that treats you like a fund manager in the real market, Marketoracy, http://marketocracy...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much is inflation? ### Answer: To add to MrChrister's answer: Canada also has a Consumer Price Index (CPI) used to measure inflation that is distinct and separate from that maintained by the Unit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some valuable sources for investment experience, when there is very little to no money to start with? ### Answer: Fake stock market trading may teach you about trading, which isn't necessaril...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is “beta” for an investment or a portfolio, and how do I use it? ### Answer: I don't think either of these answers are accurate. A beta of 0 means that your stock/portfolio does not change accord...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: It appears your company is offering roughly a 25% discount on its shares. I start there as a basis to give you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you beat the market by investing in double long ETFs? [duplicate] ### Answer: See http://blogs.reuters.com/felix-salmon/2011/04/30/why-the-sec-should-look-at-levered-etfs/?dlvrit=60132, http://sym...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How should I think about stock dividends? ### Answer: DRiPs come to mind as something that may be worth examining. If you take the Microsoft example, consider what would happen if you bought additiona...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is Systematic about Systematic Investment Plan (SIP) and who invented it? ### Answer: According to https://en.wikipedia.org/wiki/Systematic_Investment_Plan it's nothing but a fancy term for plain...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is investing into real estate a good move for a risk-averse person at the moment ### Answer: Real estate is never a low-risk investment. I'd keep your money in the bank, and make sure that you don't h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Just getting started and not sure where to go from here ### Answer: There's a lot going on here. I'd be making the maximum ($5500 for a single person under 50) contribution to the Roth IRA each year. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's a good personal finance management web app that I can use in Canada? ### Answer: I use MoneyStrands (formerly called Expensr), but mostly just to track expenses and look at reports on my spendi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does short selling require borrowing? ### Answer: why can't I just use the same trick with my own shares to make money on the way down? Because if you sell shares out of your own portfolio, by ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you recommend some good websites/brokers for buying/selling stocks in India? ### Answer: API wise there's just one at the retail level: Interactive Brokers (India). Brokerage is high though - 3.5 ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On what dates do the U.S. and Canada release their respective federal budgets? ### Answer: To the best of my knowledge, there's no firm date requirement. The fiscal year for the US Federal Government ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can my employer limit my maximum 401k contribution amount (below the IRS limit)? ### Answer: On thing the questioner should do is review the Summary Plan Description (SPD) for the 401(k) plan. This M...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I open a credit card when I turn 18 just to start a credit score? ### Answer: This is a good idea, but it will barely affect your credit score at all. Credit cards, while a good tool to use fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What do brokerage firms do? ### Answer: Off the top of my head, a broker: While there are stock exchanges that offer direct market access (DMA), they (nearly) always want a broker as well to back the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it better to use DRIP or invest when stock drops before ex-date? ### Answer: Yes you can do that and it it wise to do so. However, you should make sure that the general trend of the stock is upward...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a stock doesn't pay dividends, then why is the stock worth anything? ### Answer: It seems to me that your main question here is about why a stock is worth anything at all, why it has any intrinsic ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why doesn’t every company and individual use tax-havens to pay less taxes? ### Answer: I believe that an understanding of the taxation system can help to understand our place in it, and how that impac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do people use mortgages, when they could just pay for the house in full? ### Answer: Some countries, like the United States, allow a mortgage interest tax deduction. This means the interest you p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I preserve my wealth for future generations? ### Answer: Set goals: Outlining clients’ investment goals is key. The returns they require set the stage for their plans and the risks they’re pre...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: You are looking to be made whole, so the requests need to be reasonable. You need to be clear that you want: You aren't going to 'punish' t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When Employees are “Granted” Stock Options, is the Company encouraging Long-Term investments from them? ### Answer: There are two things to consider: taxes - beneficial treatment for long-term holding...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What choices should I consider for investing money that I will need in two years? ### Answer: Books such as "The Pocket Idiot's Guide to Investing in Mutual Funds" claim that money market funds and CD...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: From the perspective of an investor and someone in high-tech during that period, here is my take: A few high tech companies had made it big (A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why I cannot find a “Pure Cash” option in 401k investments? ### Answer: Your employer decides what options you have in the 401k. You can talk to your HR about that. There are requirements for diversit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How should I record invoices in foreign currency in GNUCash? ### Answer: It depends upon in how many currencies your business is denominated. If your business is solely dependent upon this one payer, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is gold really an investment or just a hedge against inflation? ### Answer: Another answer to this question occurred to me as I started learning more about historical uses for gold etc. Perhaps it's ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Automatic investments for cheap ### Answer: ETrade allows this without fees (when investing into one of the No-Load/No-Fees funds from their list). The Sharebuilder plan is better when investing into ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How is gold shared in worldwide economies? ### Answer: I think you are asking a few questions here. Why is gold chosen as money? In a free market there are five characteristics of a good money: Gold a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does a withdrawal of $10000 for 1st home purchase count against Roth IRA basis? ### Answer: TL;DR: No, it doesn't count against the Roth IRA basis. You can find out by looking at Form 8606 Part III, w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Better to have a non-registered (taxable) investment account in one/both names and/or based on income? ### Answer: It should be in the name(s) of whomever puts money in the account. When filing your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When I google a ticker like XLE or something, I see a price which updates frequently (about every second or so), where can I find this for options? ### Answer: you can try CME DataSuite. Your broker g...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a correlation between self-employment and wealth? ### Answer: In a well-managed company, employees bring more dollars to their employers than the employers pay the employees (salary and benef...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I consider when I try to invest my money today for a larger immediate income stream that will secure my retirement? ### Answer: TL:DR: You should read something like The Little Book of Com...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I have an extra 1000€ per month, what should I do with it? ### Answer: First check: Do you have all the insurances you need? The two insurances everyone should have are: Another insurance you might wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: devastated with our retirement money that we have left ### Answer: The answers you've received already are very good. I truly sympathize with your situation. In general, it makes sense to try to build...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why don't some places require a credit card receipt signature, and some do? ### Answer: This is basically done to reduce costs and overhead, with agreement of the credit card issuers. When the card is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advantages of paying more of your mortgage while you know you won't continue to live there your whole life ### Answer: The main factors you have to consider are: Could you get a better return on that ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the P/E ratio for a company with negative earnings? ### Answer: Usually their PE ratio will just be listed as 0 or blank. Though I've always wondered why they don't just list the negative PE ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I walk away from my mortgage? ### Answer: It's a decision that only you can make. What are the chances that you'll want to take another loan (any loan - car, credit card, installment plan ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Effective returns on investment in housing vs other financial instruments ### Answer: Thinking of personal residence as investment is how we got the bubble and crash in housing prices, and the Great R...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's a good free checking account? ### Answer: Capital One 360. No minimums balance, no fees. Everything's online. Make deposits using an app or an image of the check. ATMs are free almost everywher...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I liable for an auto accident if I'm a cosigner but not on the title, registration, or insurance policy? ### Answer: You can be sued if some random stranger that you never had any interaction with ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I'm about to be offered equity by my employer. What should I expect? ### Answer: The main thing is the percentage of the company represented by the shares. Number of shares is meaningless without tota...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Option on an option possible? (Have a LEAP, put to me?) ### Answer: I can sell a PUT on it a bit out of the money, and I seemingly "win" either way: i.e. make money on selling the PUT, and either I ge...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Any good software for value investment? ### Answer: I hope people don’t see this as being facetious but invest some time in learning to do that with Excel. Most financial information websites (Yahoo, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to calculate new price for bond if yield increases ### Answer: The duration of a bond tells you the sensitivity of its price to its yield. There are various ways of defining it (see here for examp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Retirement planning: Pension or personal saving/investing? ### Answer: You can never depend ONLY on pension. You must get financial education and invest your money. I recommend you to read The Intelli...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: As mentioned in several other answers, the main reason for high rates is to maximize profit. However, here is another, sma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I cash in physical stock certificates? (GM 1989) ### Answer: which means the current total is $548,100. Is that correct? Yep Unfortunately the "current" GM stock is different than the GM stock ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying insurance (extended warranty or guarantee) on everyday goods / appliances? ### Answer: Generally, a polite decline. However, I have dealt with sales people who take first refusal as a "test" re...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What laws/regulations are there regardings gifts in the form of large sums of money? ### Answer: This forum is not intended to be a discussion group, but I would like to add a different perspective, e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is real (physical) money traded during online trading? ### Answer: I think you need to define what you mean by "buy currency online using some online forex trading platform" ... In large Fx trades, re...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much cash on hand should one have? ### Answer: Less than 2 1/2% of all US currency actually exists. The rest is digital entries. In a financial crisis you'll need lots of rare cash. Twenty doll...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does F[YY]e mean in reporting ### Answer: that means fiscal year 2015,Most internal company in China or India have different fiscal year to estimate financial state when it run to the end of year...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will my current employer find out if I have a sole proprietarship/corporation? ### Answer: I would have thought that if you are doing it in your own time using your own resources it really has nothing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: mhoran_psprep has answered the question well about "shorting" e.g. making a profit if the stock price goes down. However a CEO can take out insurance (call...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why isn't money spent on necessities deductible from your taxes? ### Answer: Another way to look at it is that deductibles are intended as incentives or subsidies to particular industries (in this cas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Having a separate bank account for business/investing, but not a “business account?” ### Answer: Having a separate checking account for the business makes sense. It simplifies documenting your income/...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would people sell a stock below the current price? ### Answer: People in this case, are large institutional investors. The "bid ask" spread is for "small traders" like yourself. It is put out by t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros / cons of being more involved with IRA investments [duplicate] ### Answer: diversifying; but isn't that what mutual funds already do? They diversify and reduce stock-specific risk by moving from ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: I think you're thinking that "in debt" doesn't just mean "owes a debt" but somehow means "owes more debt in total than the assets". That condit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what is this type of stock trade? ### Answer: I think that pattern is impossible, since the attempt to apply the second half would seem to prevent executing the first. Could you rewrite that as "After...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Personal Asset Protection - How to protect asset against a deficiency judgement? ### Answer: You should talk to a bankruptcy attorney local to you. While bankruptcy laws are federal, there are a vari...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the rationale behind brokerages establishing tiers/levels for options trading? ### Answer: The different levels are somewhat related to levels of risk. Writing a covered call is pretty low ris...